Consumer prices in Cyprus rose by a cumulative 22.12 per cent between September 2020 and September 2026, and electricity prices more than doubled, a comparison of Statistical Service data shows.
Electricity prices rose by 112.90 per cent over the six years. Annual inflation stood at 3.69 per cent in September, compared with September 2025, and prices rose by 0.74 per cent from August.
According to figures released by the Statistical Service on Thursday, the consumer price index rose by 0.76 points to 104.01 in September, from 103.25 in August.
The European Central Bank’s medium-term inflation target remains 2 per cent. Cyprus depends directly on imported fuel. In late September, the cabinet approved a new package of measures worth 70 million euros, bringing total support, including existing measures, to 160 million euros.
Fuel
Transport costs rose by a cumulative 36.06 per cent between 2020 and 2026, driven directly by a 57.60 per cent rise in fuels and lubricants. Diesel rose by 74.37 per cent and petrol by 52.71 per cent. Liquid fuels, including heating oil, rose by 138.70 per cent, the biggest increase in the figures.
Food
Food and non-alcoholic drinks rose by 25.33 per cent over the six years. Food alone rose by 24.12 per cent, and non-alcoholic drinks by 38.92 per cent.
Beef recorded the largest increase among foods, at 72.11 per cent, followed by goat and sheep meat at 71.06 per cent. Pork rose by 27.82 per cent, while poultry rose by just 8.09 per cent.
Coffee and coffee substitutes rose by 56.91 per cent, and soft drinks by 40.09 per cent. Potatoes were up 46.26 per cent and vegetables overall 44.12 per cent. Eggs rose by 42.14 per cent and olive oil by 33.90 per cent, while bread and sugar rose by 24.82 per cent and 24.13 per cent respectively. Milk, dairy products and eggs as a category rose by 18.95 per cent.
Clothing and footwear
Clothing and footwear were the only notable exception. Their prices fell by a cumulative 16.01 per cent from 2020, holding down the general index. The fall is mainly put down to strong competition from online shopping, and to consumers turning to cheaper options as electricity, fuel and food take up much of household budgets.
Annual inflation since 2021
Measured each September against the previous September, annual inflation was 4.09 per cent in 2021 and peaked at 8.74 per cent in 2022. It fell to 4.02 per cent in 2023 and 0.69 per cent in 2024, before slight deflation of 0.65 per cent in 2025. It rose again to 3.69 per cent in 2026.
